GridViewDynamicHyperlinkColumn doesn't work if the NavigateUrlFormatString property is not set.

Workaround is to specify that the format string should contain only the required member path:
﻿<telerik:GridViewDynamicHyperlinkColumn Header="ID" DataMemberBinding="{Binding ID}" NavigateUrlMemberPaths="WebUrl" NavigateUrlFormatString="{} {0}" TargetName="_blank"/>﻿